He has said, "Fresh, clean water cannot be taken for granted. Portfolio manager(s) are listed as Michael Burry. The portfolio's exposure to China is also thought-provoking. Primary Business Name: SCION ASSET MANAGEMENT, LLC CRD Number: 167772 Other-Than-Annual Amendment - All Sections Rev. Terms of Use | Disclaimers | Privacy Policy. Questions to ask approximately 0.1% of the total holdings value. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Scion was up 55%. 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Will anyone that was involved be involved with my accounts in any capacity? Unlike HTTPS connections, HTTP connections are not encrypted. His research on the values of residential real estate convinced him that subprime mortgages, especially those with "teaser" rates, and the bonds based on these mortgages, would begin losing value when the original rates were replaced by much higher rates, often in as little as two years after initiation. Dr. Michael Burry's Scion Asset Management disclosed holdings on Feb. 15 for the first time in over two years. Questions to ask Regulatory disclosures state that firm sells proprietary investments and products. Saratoga, CA 95070, 30 Burton Hills Blvd Suite 315, Nashville, Tennessee 37215. Scion Asset Management, LLC It charges an asset-based management fee that can be as high as 2% per year, while it may also take up to 20% of the value of the appreciation from each clients account. [29] During the second quarter of 2021, he has reported to hold puts on almost 31 million dollars on the ARKK ETF innovation index managed by Ark Invest. Perform physically demanding work to maintain the asset, and other property features to minimize liability concerns. [14][15][16], During his payments toward the credit default swaps, Burry suffered an investor revolt, where some investors in his fund worried his predictions were inaccurate and demanded to withdraw their capital. decreased its share price by approximately 0.1%, Geo total 2,019,150 shares worth $15.5 million. The two most similar investment funds to Scion Asset Management are Centurylink Investment Management Co and Secrest Blakey & Associates. Michael Burry's hedge fund Scion Asset Management is based in Saratoga, California and manages capital for 5 clients. of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year. Accordingly, he disregards price-to-earnings ratios to dodge being deceived by a companys stated metrics. Scion Asset Management, registered in 2018, serves 2 state (s) with a licensed staff of 4 advisors. Scion Asset Management, LLC (Filer) CIK: 0001649339 (see all company filings) IRS No. What does this mean? Michael Burry has been on a buying spree lately. How does your firm approach insurance sales? How many times did it occur? Dr. Michael Burry and his fund Scion Capital were made famous by the movie "The Big Short," which This relationship may introduce bias where a firm or related person recommends certain securities with which they are affiliated, rather than others that may have higher returns. 12.25% 3-Year Performance. These commissions may be earned from the sale of investment or insurance products and are paid by the companies providing the products being sold. Advertiser Disclosure: StockBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. Does your firm perform side-by-side management? Back on April 10, 2020, Michael Burry, who gained fame as a major character in the book and movie The Big Short, filed a 13D on Gamestop Inc. (GME) disclosing that his fund Scion Asset Management, LLC owned 5.3% of GME's outstanding shares. The majority of the companies in the funds portfolio are large-cap stocks. Scion Asset Management, LLC initiated holding in Lumen Technologies Inc. Investment adviser firms registered with the SEC may be required to provide to state securities authorities a copy of their Form ADV and any accompanying amendments filed with the SEC. What does this mean? Bidens orders, which directed the attorney general not to renew Justice Department contracts with privately operated criminal detention facilities. [22] In 2020, the fund's largest investments were Alphabet Inc. ($121 million value) and Facebook ($24.4 million value). The stock is now traded at around $14.430000. I was damned sure I was going to pay it off.. compensation-related conflicts of interest, Types of Financial Advisors and How to Choose, What's a Fiduciary (and Why It Matters So Much). The next year, the S&P 500 fell again, by 22.1%, and Scion was up again: 16%. The firm owned 95,150 shares of the company's stock after purchasing an additional 57,650 shares during the period. He has Rusyn ancestry. What does this mean and why is it important? Financial plans and investment portfolios are always unique to the client's personal financial situation. Black Knight Inc (US:BKI) [18][16], In 2013, Burry reopened his hedge fund, this time called Scion Asset Management, filing reports as an exempt reporting adviser (ERA) active in the state of California and approved by the SEC. Updated 05 Jan 2023. Scion Asset Management Review. [9] His son was diagnosed with Asperger syndrome, and Burry believes he himself has Asperger syndrome after reading about the disorder. Scion Asset Management's public equity portfolio is heavily concentrated. When operating in this dual capacity, advisors may be incentivized to implement plans as an attorney that could drive higher revenue for themselves as investment advisors. Visit Site, Is this your firm? In that case, interest rates would pivot and rates would be cut while the government would announce a stimulus package to help households suffering from a failing economy. John Rogers - Ariel Appreciation Fund Updated 11 Jan 2023. [28] In October 2021, after a 100% rise in Tesla's stock value, he revealed he was no longer shorting it. Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. After more than two years, on February 14, 2019, Scion Asset Management filed another 13F, showing Burry to hold numerous large-cap stocks and $103,528,000 13F assets under management, just above the threshold for filing. Please send any feedback, corrections, or questions to support@suredividend.com. Side-by-side management can create an incentive for the advisor to favor the larger funds, potentially leading to unequal trading costs and unfavorable trade executions for their clients. Firm or an advisory affiliate has previously had their authorization to act as an attorney, accountant, or federal contractor revoked or suspended. BBBY has plummeted by more than 95% from its 2021 peak to below $2 a share today . 223.17% 10-Year Performance. According to the last 13-F report filed with the SEC, Michael Burry serves as the Chief Executive Officer at Scion Asset Management. Hedge Fund Manager. According to author Michael Lewis, "in his first full year, 2001, the S&P 500 fell 11.88%. Additionally, the company has been utilizing loopholes through third parties, which essentially still allows it to deal with federal agencies. Scion Asset Management also says it works to provide clients with a diverse mix of portfolio opportunities it believes will increase their chances of investment success. This could also limit the number and diversity of investment options available and may impact their transferability. This conclusion led him to short the market by persuading Goldman Sachs and other investment firms to sell him credit default swaps against subprime deals he saw as vulnerable. It is now the funds fifth-largest holding, accounting for 10.0% of its holdings. Firms that receive soft-dollar benefits could be incentivized to push trades through broker-dealers that provide advantages to the firm instead of through broker-dealers that could provide the best execution for their clients. You wont receive financial advice or any financial planning services as an individual investor, and you can only invest in the available funds that the firm oversees. After attending medical school, Dr. Burry left to start his own hedge fund in 2000. Our system has identified the following conflict alerts. The third-largest holding is CoreCivic Inc worth $6.41 million and the next is Aerojet Rocketdyne Inc worth $5.3 million, with 132,561 shares owned. That said, the company has navigated these challenges quite competently, which, combined with its deep-value characteristics, explained why Dr. Burry has bet heavily on The GEO Group. Private prison giants The GEO Group accounts for 20.4% of Scion Assets management public equity holdings. According to the latest 13F filing from famed investor Michael J. Burry's Scion Asset Management, the hedge fund has added seven new stocks to its portfolio. Under Bidens plan, the federal government would forgive up to $20,000 in student loans per borrower, depending on their income-based eligibility. Scion Asset Management manages $291.7 million and provides investment advisory services for 4 clients (1 advisor/client ratio). Scion Asset Management, LLC has disclosed 9 total holdings in their latest 13F filing with the SEC for the portfolio date of 2022-12-31. Specifically, the company repurchased nearly $9.7 billion worth of stock last year. What does this mean? Burry's Scion Asset Management said in a regulatory filing in mid-May it had put options on 800,100 Tesla shares as of the end of the first quarter. Scion Asset Management, LLC's new positions include The fund's top five holdings, which we analyze below, account for 72.2% of its total public . Investor.com relies on regulatory data from the SEC to rate and review financial advisor firms. The Scion Asset Management manager revealed the purchase of seven new stocks in the last quarter. The author may be long one or more stocks mentioned in this report. Ranked #44 out of 483 Hedge Fund Managers. The collapse of the real estate market in 2008 was a key event leading to the global financial crisis. Since Jun 2013. The Scion Asset Management founder studied at UCLA and earned his medical degree at Vanderbilt University before starting and eventually abandoning a residency at Stanford University Medical Center. Questions to ask These filings are called "notice filings". 2021-08-16. Green rows indicate new positions. Scion Asset Management. Which securities does your firm trade for itself that it will also be recommending to me? , As of 09/30/2022, below is a summary of the Scion Asset Management LLC top holdings by largest position size, as . Burry was born and grew up in San Jose, California. Questions to ask Currently tracking portfolios of 77 superinvestors. See the articles below for analysis on other major investment firms/asset managers/gurus: If you are interested in finding more high-quality dividend growth stocks suitable for long-term investment, the following Sure Dividend databases will be useful: The major domestic stock market indices are another solid resource for finding investment ideas. The president and supporters of his plan argue student loan debt forgiveness will provide much-needed relief to million debt-saddled Americans. ", "Why Is Michael Burry Investing In Water? There are currently 6 companies in Mr. Burry's portfolio. The investment fund also strengthened its position in Geo by buying If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Michael Burry does see a recession coming, but that hasn't stopped himrather his hedge fund Scion Asset Managementfrom stocking up on some positions likely to be hit hard by a downturn. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Oils $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Five years later in 2013 Michael Burry reopened his fund with slightly changed name Scion Asset Management. And we could be headed for another recession. In Michael Burry's current portfolio as of 2022-12-31, the top 5 holdings are The GEO Group Inc (GEO), Black Knight Inc . The Software Solutions segment provides software and hosting solutions comprising MSP, a SaaS application platform for mortgages, home equity loans, and lines of credit. Form 13F-HR - Quarterly report filed by institutional managers, Holdings: SEC Accession No. February 17, 2023. He became famous when he was played by Christian Bale in the blockbuster movie 'The Big Short' based on the best selling book by author Michael Lewis.Dr. documented the history and events leading up to his contrarian but hugely successful bet against the real estate market Bill Ackman's: Pershing Square Capital Management. A regulatory agency other than the SEC or CFTC has previously found the firm or an advisory affiliate responsible for having an investment-related business have its authorization to do business denied, suspended, or revoked. What does this mean and why is it important? . But critics have aired various concerns about Bidens plan, such as whether his executive order oversteps the presidents authority. What does this mean and why is it important? The purchase prices were between $9.72 and $15.36, with an estimated average price of $12.41. Details on the strike price of the puts, their value and whether they were part of a broader trade were not available. Founded in 2003, Scion Asset Management, LLC is a private investment firm led by investing guru Dr. Michael J. Burry. This video discusses the update to Michael Burry's portfolio (Scion Asset Management). Portfolio manager(s) are listed as Michael Burry. You can download an Excel spreadsheet with metrics that matter of Scion Asset Managements current 13F equity holdings below: Click here to instantly download your free spreadsheet of all Scion Asset Management / Michael Burry holdings now, along with important investing metrics. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users. The impact to a portfolio due to this purchase was 0.65%. They manage Should I Hire a Financial Advisor or DIY It? Burry, whose successful bet against subprime mortgages were famously chronicled in the 2015 film The Big Short, delivered the dire forecast as the Supreme Court hears arguments this week on whether President Biden has the authority to cancel student debt. Investors following the companys 13F filings over the last 3 years (from mid-February 2020 through mid-February 2023) would have generated annualized total returns of 51.4%. These positions were updated on November 14th based on the funds latest 13F filing. Questions to ask Stocks with a size of more than $10 billion in market cap make up Profitability has also been weak. : 000000000 | State of Incorp. "[6] Burry was able to achieve these returns partly by shorting overvalued tech stocks at the peak of the internet bubble. 100.0% Dr. Burry Scion Asset Management Holdings Heatmap . Firm or an advisory affiliate was previously found to have made false statements, omissions, or being dishonest and unfair by a regulatory agency other than the SEC or CFTC. Shares of Chinese e-commerce behemoth Alibaba have remained under pressure despite the company generating rather robust revenues given the ongoing trading environment. Please declare your traffic by updating your user agent to include company specific information. As of 7th November 2022, Scion Asset Managements top holding is 2,019,150 shares of Geo currently worth over $15.5 million and making up 37.6% of the portfolio value. [9], Despite not practicing, Burry has kept his license as a physician active with the Medical Board of California, including continuing education requirements.[10][11]. , Qurate Retail Inc and bought 5,000,000 shares worth $10.1 million. Here's what investors need to know about Michael Burry's long positions. The SEC or CFTC has previously found the firm or an advisory affiliate responsible for having an investment-related business have its authorization to do business denied, suspended, or revoked. The advisory also believes in using fundamental analysis methods to assess . Nevertheless, it is Dr. Burrys legendary plays prior to the Great Financial Crisis, and the massive returns that followed that pushed his name into the international spotlight. Some firms receive these fees as payments, which creates an incentive to promote them.